Month End: April Snapshot

Every journey has its own setbacks and detours, however despite those moments, you must remain consistent about where you want to be. Will you run into unforeseen expenses and liabilities? Absolutely! I encourage you with this idea: I’m in no way perfect, but I serve a perfect God. He knows an exit strategy into every situation I’m placed into whether it’s good or bad. Repent quick, Forgive quick, and Move on quick. This previous month, I had to adjust my strategy and take advantage of the zero percent balance transfer offered on the Capital One card. As the wedding date draws closer, Jill and I have had to discuss the costs involved in the wedding. I’ve found this discussion very important, because in discussing finances, we’ve come into agreement on how to handle our finances together. I love her more and more each day, because she fills in and covers the weaknesses I never knew I had.

Specifically, I’ve re-focused my debt reduction on paying down the Barclay’s card while slowly reducing the other debts and applying principal reduction payments where I can. Always seek wise counsel where you can and use their counsel to take advantage of the best situations that present themselves. Their counsel will help you discern if the choice you make is the best one for you. When I got out of debt before, all I did was focus on making extra money to pay off debt. This time I’m paying down debt, saving, investing in assets, and growing my assets that produce income. Why? Time is fixed. We only have 60 seconds in a minute, 60 minutes in an hour, 24 hours in a day, 7 days in a week, and 52 weeks in a year. Time will run out. Use and manage your energy efficiently and effectively so that you can get as much out of each moment as you can. If you consistently focus on saving and buying assets, then when you finally are out of debt, you will have a larger amount in savings and more income producing assets vs. getting out of debt and then having to build savings and assets. Also, by saving and investing while you are getting out of debt, will create a discipline inside of you. How am I able to do it this way vs. the last time? I have a budget. A budget will put order into your life. Order proceeds increase and increase proceeds multiplication. Knowing your net income number is the key to being able to get out of debt, save, and invest. There is a process that I follow that I will share in future posts. Remain consistent and diligent on your journey.

Have someone to discuss your debt reduction strategy with, and if you need a financial check-up contact me. More details about a financial check-up is in the contact me section.